State to share in $25B settlement

Michigan one of 49 states to sign on to compensate for ‘abusive practices’

Michigan joined 48 other states in a $25 billion settlement with the country’s five largest mortgage lenders.
The settlement, intended to hold mortgage servicers accountable for what U.S. Attorney General Eric Holder said were “abusive practices,” will provide some relief to homeowners struggling to pay mortgages that are more than their houses are worth.
But the amount ...